I.T.A. NO.2506/LB/1986-87, DECIDED ON 4TH SEPTEMBER, 1988. versus I.T.A. NO.2506/LB/1986-87, DECIDED ON 4TH SEPTEMBER, 1988.
Extra income included under section 13 and 111 [as amended by the Finance Act of 1984] is not real income, but is considered income as a matter of law fiction, in fact it is all income tax law. It cannot, however, be held that in the given circumstances if the appraisal fails to adequately explain some of the credit, expenditure or investment, it will be considered as income from the assessee. In fact no income can be earned when any addition is made under section. 13, is also considered as hidden income and shall be fined by the Assigning Officer under section 111 of the terms of the ordinance relating to the exercise of powers.
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